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Alibaba’s Jack Ma Wrote “Use Blockchain for Manufacturing Industry Revolution” in His Last Letter to Shareholders

October 30, Jack Ma, the chairman of E-commerce giant Alibaba and China’s leading digital payments platform Ant Financial has issued an open letter to Alibaba’s shareholders, saying that blockchain and other advanced technologies are the keys in manufacturing industry revolution.

It would be the last time for Ma to give such an open letter as the chairman of Alibaba Group. As he is about to quit his job according to an claim launched in early September.  bRpg-hnfikvc4571658

Alibaba’s 2018 Shareholders Meeting will be held in Hong Kong on October 31. People are paying close attention to Ma’s ‘final show’. As shareholders are most concerned about the external environment and challenges that will affect Alibaba’s business performance, Ma said that,

“Alibaba never lays out for a visible opportunity, and we always put our effort in the future. As thus, the temporary storms can hardly hurt us. This is because we believe, as long as we are innovating to solve problems and generating real value, there is no doubt that we may gain broad market as well as decent profit.”

Nowadays, SEMs are facing big challenges in current trading mode. In order to help the SEMs, Alibaba builds a trading system in the past three years to promote the global inclusive finance in “4T”, which represents Trade, Tourism, Training, Technology).

Ma also commented that in the future, Alibaba will provide technical support to the SEMs. Using the example of the manufacturing industry, Ma believes that the future manufacturing would be the combination of existing manufacturing and the service business. It would be manufacture of  individualization, customization and datamation with the help of the cutting-edge technologies.

For instance, Ma highlighted that the advanced technologies including the artificial intelligence (AI), blockchain and Internet of Tings (IoT) may help the manufacturing industry revolution.

It is not the first time for Ma to emphasize the huge potential of blockchain technology. Earlier this month, Ma has demonstrated his interest in blockchain technology as it has the potential of establishing a cashless society.

Alibaba has put a lot of efforts in developing blockchain technology and it has the most blcockchain patents in the world. In the future, the firm will bring us more blockchain applications to make the world more effective.

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